With recapitalization, BOA will revolutionize agricultural landscape- MD
By Tunde Opalana
Set to revolutionizing Nigeria’s agricultural landscape and advancing the nation’s food security agenda, the Bank of Agriculture (BOA) will introduce a smart banking system.
The newly appointed Managing Director of the Mr. Ayo Sotinrin, who gave the assurance said his leadership vision aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
He divulged his drive to transform the agriculture sector at a press briefing at the BOA headquarters in Kaduna as part of activities marking his assumption of office.
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According to a statement from the bank, the MD promised to take advantage of the bank’s recapitalization to reposition the BOA as a catalyst for agricultural development.
He added that he will expand the bank’s role in promoting agribusiness through strategic collaborations with critical sectors of the economy.
“Our mission is to do smart banking—deploy capital intelligently, optimize existing assets, and digitalize all branches for efficient service delivery. This is the beginning of a new era for the Bank of Agriculture,” he stated.
Sotinrin noted that digitization and data-driven operations will allow for more accurate tracking of farmer activities, productivity, and loan performance.
“Proper baseline data is essential. Farmers will be accessed and monitored via technology to ensure transparency and impact,” he added.
To encourage government’s efforts at achieving good security, country’s food systems he emphasized the need to shift ground from non-performing loans to a structured, monitored lending system using extension services and collateral managers.
He encouraged large-scale farmers to consider BOA as their financial partner, saying “we’re recapitalizing and opening up opportunities for all levels of farmers,” he added.
“With recapitalization and digital inclusion, BOA will bring farmers—especially those in remote communities—into the financial ecosystem, driving Nigeria toward becoming Africa’s food basket”.
